By Harry Robertson LONDON (Reuters) – A huge two-month rally in bond prices, powered by expectations that central banks will soon be cutting interest rates, has rescued fixed income markets from an almost unheard-of third straight year of declines. The U.S. 10-year Treasury yield, the benchmark for borrowing costs globally, has dropped 50 basis points …
Biggest two-month rally in decades rescues beaten-up bond markets Read More »
(Reuters) – China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an outlook released on Thursday. Non-fossil energy supply, led by solar and wind, will likely exceed the equivalence of 3 billion metric tons of standard coal by 2045 to become …
Sinopec forecasts China’s coal consumption to peak around 2025 Read More »
DUBAI (Reuters) – Qatar has agreed to supply Shell in Singapore with up to 18 million barrels of oil a year for five years in what the Gulf state’s energy company said was its first ever five-year crude sales deal. QatarEnergy said it had agreed with Shell International Eastern Trading Company to supply up to …
Qatar to supply crude oil to Shell in five-year deal Read More »
HANOI (Reuters) – Vietnam’s central bank on Thursday said it stood ready to intervene in the local gold market as soaring domestic prices of the metal prompted a rebuke from the country’s prime minister. The price of gold in the Southeast Asian country has gained nearly 20% since the beginning of the year, reaching a …
Vietnam central bank: ready to tackle soaring local gold prices Read More »
SEOUL (Reuters) – Taeyoung Engineering & Construction, a mid-sized South Korean builder, said on Thursday it planned to restructure its debt and authorities quickly announced they were working to ensure its troubles did not spill over into financial markets. The country’s 16th largest builder has 4.58 trillion won ($3.6 billion) in debt including project financing …
South Korea moves to reassure markets as builder seeks to restructure debt Read More »
BEIJING (Reuters) – China’s manufacturing activity likely contracted for the third consecutive month, a Reuters poll showed on Thursday, weighed by soft demand for manufactured goods, a reading that would embolden calls for more policy support. The official purchasing managers’ index (PMI) likely was at 49.5 in December from last month’s 49.4, according to the …
China’s Dec factory activity likely contracted for third month: Reuters poll Read More »
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Wednesday rejected Alibaba’s bid to dismiss a lawsuit over the alleged sale by various merchants of counterfeit versions of the popular children’s toy Squishmallows on its online platforms. U.S. District Judge Jesse Furman in Manhattan said Kelly Toys, whose parent Jazwares is owned by …
Alibaba must face lawsuit in US over counterfeit Squishmallows Read More »
(Reuters) – Hollysys Automation Technologies said on Wednesday that it was going ahead with private equity firm Ascendent’s takeover offer valued at $1.66 billion as it struggled to find a better bid from interested parties during the “go-shop” period. The China-based automation technology provider said it received two other offers from unnamed parties during the …
Hollysys to move ahead with Ascendent’s takeover offer Read More »
By Neil Jerome Morales and Mikhail Flores MANILA (Reuters) -The Philippines on Wednesday pre-qualified four bidders for a 170.6 billion pesos ($3 billion) upgrade of its main international airport, the transportation ministry said. The aging Ninoy Aquino International Airport (NAIA), the fifth largest in Southeast Asia, needs an upgrade to solve chronic flight delays and …
Philippines attracts four bids for main airport’s $3 billion upgrade Read More »
BANGKOK (Reuters) – Thailand is planning a larger budget deficit of 713 billion baht ($20.71 billion) for the 2025 fiscal year and higher spending of 3.6 trillion baht that year, the government said, in a plan that would see a rise in spending over the next two years. The government predicts GDP growth of 3.6% …
Thai govt set to further increase spending in 2025 fiscal year Read More »
